@jwilson132 on XAUUSD | PriceONN Community

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jwilson132
jwilson132 PRO newbie
XAUUSD Mar 11
Is anyone else seeing a potential double bottom forming on the H4 chart for XAUUSD? It's right around the 5170-5175 level. I'm still pretty new to this, so I'm not sure if I'm interpreting it correctly. The RSI is also showing a bit of divergence... but i dont knwo if its a reliable signal. What are your thoughts?
XAUUSD

Replies (1)

jwilson132
jwilson132 PRO newbie Mar 11
Also, I'm wondering how the US inflation data might affect this pattern. If the data comes in higher than expected, would that invalidate the double bottom? Or could it actually strengthen the move upward if gold is seen as a hedge against inflation??? still trying to understand these correlations...
EURUSD 1.16193 -0.10%
GBPUSD 1.34350 -0.21%
USDJPY 159.85650 -0.01%
XAUUSD 4,462.58 -0.56%
XAGUSD 73.26 -2.45%
BTCUSD 63,304 -6.34%
SP500 6,572.87 +0.74%
BRENT 99.29 +0.41%
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